Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,319 shares of the financial services provider's stock after selling 15,058 shares during the period. Harvest Portfolios Group Inc.'s holdings in Fifth Third Bancorp were worth $6,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. American Capital Advisory LLC bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $34,000. Hexagon Capital Partners LLC boosted its holdings in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after buying an additional 312 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $52,000. Catalyst Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $53,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 1,787.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider's stock valued at $57,000 after buying an additional 1,269 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday. Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Argus lifted their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. Finally, Baird R W cut shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average target price of $42.28.

Fifth Third Bancorp Stock Up 8.6 %

Shares of FITB traded up $3.71 during mid-day trading on Wednesday, reaching $46.87. The company's stock had a trading volume of 11,664,393 shares, compared to its average volume of 4,643,521. The company's 50 day moving average is $42.85 and its 200 day moving average is $39.84. The stock has a market cap of $31.72 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.21. Fifth Third Bancorp has a 12-month low of $24.64 and a 12-month high of $46.90. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. Fifth Third Bancorp's revenue was up 1.2% compared to the same quarter last year. Equities analysts anticipate that Fifth Third Bancorp will post 3.33 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Fifth Third Bancorp's previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.16%. Fifth Third Bancorp's dividend payout ratio is 49.17%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares of the company's stock, valued at $4,805,724. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares of the company's stock, valued at $4,805,724. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristine R. Garrett sold 7,500 shares of the company's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares of the company's stock, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.